Reform and opening-up decides China’s fate
China’ s rapid development in the past three decades relied on reform and opening-up, so would that in the future. Reform and opening-up is the key (crucial/decisive/very important) choice that determines contemporary China’s fate, also the choice made by the 1.3 trillion Chinese people. (Reform and opening-up are what have made fast development possible in the last thirty years, and also hold the key to China’s future development. Reform and opening-up are crucial choice that has shaped China today……)
Mr. Hu Jintao affirmed the achievements of reform and opening-up during the past three decades yesterday, in front of several leaders worldwide, pledging that China must be dedicated to the cause of reform and opening-up.
It showed Hu’s confidence in reform and opening-up making the earlier affirmation, comments from Lianhe Zaobao said.
Some observers think that although the policy adopted in the past has promoted China’s national economy and overall strength, yet it has brought about serious social problems, for instance, the disparity between the rich and poor and soaring inflation, which aroused doubts about the national policy. Hu committed himself on this controversial question at the opening ceremony of Boao Forum, which can be regarded as a manifestation of his confidence, also advocates the reform and opening-up.
Thirty years ago, under the leadership of Deng Xiaoping, Chinese people embarked on the historic journey of reform and opening-up. “It is a new revolution under the new historical circumstances,” Hu said.
After thirty years reform and opening-up, China’s economy has become an integral part of global economy. China’s gross domestic product has accounted for more than 5%, up from 1% in 1978. Meanwhile, total export-import volume has accounted for 8% in 2007, up from less than 1% in 1978. (In 1978, China‘s GDP accounted for only 1% of the world economy, whereas its share rose above 5% in 2007. in 1978, China’s share of global trade was less that 1%, whereas it jumped to about 8% in 2007.)
China’s development also provides a broad market for international capital. The accumulation of foreign investment in actual use has exceeded 780 trillion US dollars (attracting over 780 trillion US dollars of net foreign direct investment over the last thirty years). The foreign direct investment of Chinese enterprises (direct overseas investment by Chinese companies) has increased significantly (substantially/considerably/very much). China’s development has boosted the world economy and trade. (boosted the growth of global economy and trade)